If your car is written off, your insurers might not pay you as much as you would hope. This is because your insurers are likely to pay out the amount they currently value your car at. This is often not the amount that you bought it for. This means that you could lose thousands of pounds after your car is written off – through no fault of your own.
For example, you might buy your new Mercedes for £20,000. You look after it carefully for two years. Then, you have an unexpected accident and your car is written off. Unfortunately, the insurers only value your car to be worth £17,000 at the time of the accident. This leaves you £3,000 down from the position you would have expected to be in. Our Mercedes GAP Insurance covers you for the difference between your insurer’s pay out, and the amount that you paid for your car initially.